The annual inflation rate in Norway increased to 2.9 percent in June of 2021 from 2.7 percent in the previous month, and matching market consensus, due mainly to a faster rise in prices of housing and utilities (8.6 percent vs 7.6 percent). Also, prices increased more for both furnishing household equipment and routine maintenance (3.6 vs 2.8 percent in May) and recreation and culture (3.5 percent vs 2.8 percent). Meanwhile, prices of transports continued to rise (0.3 percent vs 1.5 percent). In addition, prices of food and beverages fell less (-1.7 percent vs -2.0 percent). On the other hand, prices dropped further for both clothing (-2.9 percent vs -1.7 percent) and alcoholic beverages and tobacco (-1.9 percent vs -2.0 percent). On a monthly basis, consumer prices were up 0.3 percent, rebounding from a 0.1 percent fall in May but below market consensus of a 0.4 percent rise. source: Statistics Norway
Inflation Rate in Norway averaged 4.51 percent from 1950 until 2021, reaching an all time high of 18.90 percent in June of 1951 and a record low of -1.80 percent in January of 2004. This page provides - Norway Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
Inflation Rate in Norway is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Norway to stand at 2.20 in 12 months time. In the long-term, the Norway Inflation Rate is projected to trend around 1.90 percent in 2022 and 2.00 percent in 2023, according to our econometric models.